reasons, your lender might be willing to negotiate with you. Timing is crucial, though. If your lender is very far along in the foreclosure process, they might be reluctant to interrupt that process, regardless of how committed you are to making your own sale. Even lenders who were hesitant to initiate foreclosure might suddenly become obstinately opposed to stopping it after it’s begun. In this situation, consult a foreclosure defense attorney immediately. They might be able to help you stall the foreclosure long enough to sell your home. Probably the worst thing you can do if you have equity in your home is to let it go to foreclosure. If you have equity in your home and can sell it for a good price before it is foreclosed, you might be able walk away from your transaction with money in your pocket and only minimal damage to your credit. Selling your home can be an especially good choice if you have a lot of equity in your home but insufficient income to make payments under a loan modification plan. You can usually sell your home for more than it would make at a foreclosure sale or auction. Foreclosed properties are often considered unpopular and risky investments, especially in states where the former owner has a right to redeem the property (which we’ll cover later in this chapter). Consequently, the pool of buyers for foreclosed homes is limited, and prices tend to be lower than for other homes. Selling your home yourself will likely benefit you and your lender. WORKINGWITH AN AGENT When you must sell your home quickly to avoid a foreclosure, strongly consider hiring a professional real estate agent. A local REALTOR® or other competent agent will understand
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